Air India Assets Holding Raises Rs 21,985 Crore By Bond Sale
Air India Assets Holding Ltd (AIAHL) was a special body formed by the government to overtake the debt of Air India. In a short span of one month, AIAHL has been successful in raising funds for three times already. In the recent bond sale issue, it managed to successfully raise over Rs 21,985 crore since September 16, 2019. The recent third bond issue that AIAHL rolled out was fully subscribed as per the reports of Civil Aviation Ministry. The issue was made for a 10-year tenure of Rs 1,000 crore with a greenshoe option of over Rs 7,064 crore and the bidding amount that came in was of Rs 15,100 crore as per reported by the ministry. The bonds were issued at a subscribing rate of 7.39%. Government Ready to Let Loose Some of Its Stake As per reports from PTI, since Air India is in a huge debt already, the government has already decided to opt for privatisation and let go of their stakes in it in the coming days. The airline is under a debt of more than Rs 54,000 crore. AIAHL has already raised over Rs 7,000 crore on September 16 and September 10 respectively on each date. AIAHL Supports Four Subsidiaries of Air India AIAHL is formed to support warehousing accumulated working capital loan. The working capital loan is not backed by any assets. The four subsidiaries it supports are – Airline Allied Services Ltd, Air India Air Transport Services Ltd, Hotel Corporation Of India Ltd and Air India Engineering Services Ltd (AIESL) and also some of the non-core assets which include things such as painting and artefacts.
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